The transaction, subject to regulatory approval, establishes the creation of a new entity, 51 percent of which will belong to Elavon and the remaining 49 percent to Santander. The entity will assume responsibility for all of Santander’s merchant customers and will be equipped with specialized teams who, in collaboration with the branch network, will provide service, support and solutions to retailers and small businesses throughout Spain.
Elavon provides payment processing solutions and services to more than one million merchants in the US, Europe, Canada, Mexico, Brazil and Puerto Rico. In recent news, Elavon has opened a mobile innovation center at its Atlanta headquarters to focus on merchant-based mobile services.
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